Enovix stock price

While the growth in the US and Europe is slowing down, China is picking up a significant pace and dominating the EV landscape. According to a World Economic Forum report, Chinese EVs are much cheaper than their Western counterparts, with an average price of $34,400, compared to $55,242 in the U.S. The price gap is driven by lower labor costs, favorable government subsidies, and more affordable battery sourcing. The Notes will be convertible at the option of the holders only upon the occurrence of certain events and during certain periods. The Notes will be convertible into cash, shares of Enovix common stock or a combination of cash and shares of Enovix common stock, at Enovix’s election. The initial conversion rate is 89.2160 shares of Enovix common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $11.21 per share of Enovix common stock, which represents a conversion premium of approximately 22.5% to the last reported sale price of Enovix common stock on the Nasdaq Global Select Market on September 10, 2025), and will be subject to customary anti-dilution adjustments. Breakout traders are eyeing $12.20 as the next target if upcoming earnings confirm production milestones and reduced supply chain bottlenecks.